According to our team’s research, Omega Options does NOT provide demo accounts. We also found out that they do not rate highly in Google Trends and there is no significant data about them. As an alternative we selected the top brokers that provide a Demo account for free.
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Broker Official Review
Broker Official is one of the newest binary options brokers on the market. Although they claim to be the best broker in the industry, it is our responsibility to review their services to establish how reliable they really are. We took a detailed look through their website, customer support service and also searched for trader reviews online. Based on the revelations we made, we have compiled this short review so traders can find out if Broker Official is a legitimate service provider or they are just a scam.
On their website, you will find a contact us form that you can fill out if you have any questions of concerns. It is also possible to reach them via telephone and email. The time they take to respond to your issues may vary and sometimes, you can expect extremely late replies. They also claim to offer live chat, but it is quite unfortunate that you cannot reach them via live chat as the page is always down or cannot be found.
Is Broker Official A Scam?
One of the most important facts that we found about Broker Official is that the broker is not licensed or regulated. While this does not mean that they are a scam, you could be at a risk of losing your investment if you sign up with an unregulated broker. Much information about the broker cannot be found on the internet. There aren’t any reviews or testimonials online. One reason could be that they are new in the industry and it may take some time for them to show up in search results. At the moment, it is not possible to conclude that they are a scam service. But we would advise traders to choose a better alternative because there are plenty of good options on the market.
When we looked through their website, we could not find any information about their trading platform. We don’t know if they operate on one of the common trading platforms or they have a proprietary platform. They have only mentioned that their trading platform is simple, profitable and reliable. To find out more information, you have to sign up with them. Even their FAQ section is empty and does not contain any information about the platform they use. However, they have developed a mobile application so traders can execute trades on the go.
Account Types at Broker Official
Broker Official offers 4 types of accounts to traders. The first is the Basic Account that starts with a minimum investment of $1000. Then they have an Advanced Account which can be set up with a deposit of $5000. The Professional Account is the third type of account and it can set up with a deposit of 10,000. Lastly, they offer the Ultimate Account and they require a minimum of $25,000 to open this account. There are various bonuses and incentives that are offered at each level. These come in the form of free weekly trading sessions, customer support, analyst, safe trades, weekly signals and so on.
Deposit and Withdrawal Procedures
When it comes to adding funds to your account, you can choose between credit card such as Visa, Amex, Diners and MasterCard, Bank Transfer methods, SWIFT INTERNATIONAL wire transfers and sepa Euro wire method. Usually, deposits are instant, but it depends on the method used.
Except for credit cards, deposits may attract a fee. The minimum deposit amount is $1000 which is pretty high for the industry standards. When it comes to withdrawals, the methods accepted include bank transfer and credit card. It may take up to 4 business days for withdrawals to be processed depending on the method used.
After our research we concluded that Omega Options does not provide a demo account.
The lack of practice account and risk free trading makes this broker unsuitable for traders who want to learn how to trade without losing their investment.